Kristin Incorporated is preparing her financial statements.
€¢ For each transaction, record the effect on the financial statements, including the amount of change and the title of the account. Record increases as a positive amount and decreases as a negative.
€¢ For the Statement of Cash Flows, also identify whether the amount would be reported as an Operating, Investing, or Financing activity by circling O, I, or F. A portion of Q1 is completed for you

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Kristin Incorporated Financial Statement Sell $2,000 of inventory to customers for S5,000 cash. Statement of cash flows S 5,000I/F) Cash from customers Income statement Amount Account Title Q1 Sales revenue Cost of goods sold Gross profit Income statement Income statement Sell equipment with a book value (carrying value) of S65,000 for S50,000 cash. Statement of cash flows Income statement Q2 Q3 Borrow $100,000 from a bank at an annual interest rate of 7%. The note is due in years Statement of cash flows Income statement Balance sheet three 04.Issue 1,000 shares of $100 par, 6%, preferred stock for $180 per share Statement of cash flows Income statement Balance sheet Balance sheet Q5 Receive a bill for S60,000 from a supplier. Pay S6,000 Statement of cash flows Income statement Balance sheet Q6 Sell 500 shares of Microsoft common stock for $12,000 cash, originally acquired for $5,000 O /F) Cash from sale of investments Gain on sale of investments Statement of cash flows Income statement Q7 Purchase equipment for S50,000 cash down and a $150,000 long-term note payable (O /F) Statement of cash flows Income statement Balance sheet Balance sheet Equipment Note Pay able